Gesco AG / Key word(s): Investment/Profit Warning
02-Feb-2017 / 13:02 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Wuppertal, 02.02.2017 - GESCO AG decided to put its majority holding in
Protomaster GmbH, Wilkau-Haßlau, for sale. As already explained, this
subsidiary has burdened the Group accounts in the last two financial years
as well as in the current financial year as a restructuring case.
Against the background of the intended sale, GESCO AG revises its guidance
for the current financial year 2016/2017. The company's most recent
forecast for Group net income after minority interest from November 2016
amounted to EUR 11.5 million to EUR 12.5 million. Since in the fourth
quarter operating business developed better than expected, the company now
expects Group net income after minority interest on an operating basis to
come in at between EUR 12.5 million and EUR 13.5 million. Based on the
information available now, putting Protomaster for sale will have a
negative one-off effect on Group earnings of around EUR 6.5 million.
Therefore the new guidance for Group net income after minority interest for
financial year 2016/2017 amounts to around EUR 6.0 million to EUR 7.0
million. The outlook for Group sales of around EUR 480 million is not
affected. The effects from the intended sale will mainly not influence cash
flow.
The quarterly statement for the nine months period will be published on 14
February 2017. In the Group accounts of the nine months period the effects
of the intended sale on the balance sheet and on the profit and loss
statement will not yet be included, since today's decision of the exit was
made in the current fourth quarter of the financial year.
For the new financial year 2017/2018 starting on 1 April, the company
expects growth in terms of sales and earnings on an organic basis as well
as profitable external growth provided by Pickhardt & Gerlach group which
had been acquired in December 2016.
Investor Relations, Oliver Vollbrecht
Tel. +49 202 24820-18, Fax +49 202 24820-49
Email: info@gesco.de, Internet: www.gesco.de
---------------------------------------------------------------------------
02-Feb-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Gesco AG
Johannisberg 7
42103 Wuppertal
Germany
Phone: +49 (0)202 248200
Fax: +49 (0)202 2482049
E-mail: gesco@gesco.de
Internet: www.gesco.de
ISIN: DE000A1K0201
WKN: A1K020
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service